NEW YORK, April 14 /PRNewswire-FirstCall/ -- Appliance Recycling Centers of America, Inc. (Nasdaq: ARCI) today announced that it has been awarded a contract by National Grid to provide refrigerator and freezer recycling services for Long Island Power Authority's residential electric customers in New York. The program began on March 1, 2010 and will run through December 31, 2013.
Through this program, participating utility customers who turn in operating but energy inefficient refrigerators and/or freezers, coined the "beasts in the basement," will be eligible for a $35.00 incentive. The incentive, which will be paid by LIPA, is designed to offset the energy costs normally incurred by keeping an old, secondary refrigerator or freezer running or the costs of disposing of an old refrigerator or freezer, often in favor of a new and more energy efficient model.
Edward R. (Jack) Cameron, President and Chief Executive Officer, said: "We are extremely pleased to have the opportunity to provide turnkey appliance recycling services for this energy efficiency program in New York sponsored by LIPA. By capitalizing on ARCA's extensive experience in high-volume, environmentally sound appliance recycling, LIPA will reduce residential electricity demand, help lower their customers' energy bills and provide public environmental benefits."
For further program information or to participate please visit or lipower.org/efficiency or call 1-866-761-2722.
ARCA (www.ARCAInc.com), one of the nation's largest recyclers of major household appliances for the energy conservation programs of electric utilities, currently provides services for 150 utility programs in the U.S. and Canada. Toxic chemicals and environmentally harmful materials such as ozone-depleting refrigerants, PCBs, mercury and oil are carefully recovered in the appliance decommissioning process for destruction or disposal, preventing them from contaminating soil, air and water resources. The company is also the exclusive North American distributor for UNTHA Recycling Technology (URT), a materials recovery system for household refrigeration appliances.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with general economic conditions, competition in the retail and recycling industries and regulatory risks. Other factors that could cause operating and financial results to differ are described in ARCA's periodic reports filed with the Securities and Exchange Commission. Other risks may be detailed from time to time in reports to be filed with the SEC.
SOURCE Appliance Recycling Centers of America, Inc.